₦airaland Forum

If it's the navy town,by satellite town,then you are lying

Webbyguy:
You might have noticed that you have some friends earning big income but at the end of the month, they run to you to come borrow money and you keep wondering how they spent all their money and had nothing left. Well the answer is money has wings and it can fly.

The thing is if you don’t learn to manage your money, you might just spend it all without knowing exactly what you’ve spent it on.

A good way to manage your income is by saving and investing part of it, that way you will be able yo have extra funds asides what you earn and you can use it for some other projects.

One thing you should take with you in this post is that you shouldn’t spend more than you earn, I know you’ve heard this a lot of time but I’m reemphasizing it because that’s one of the main principles of financial success.

So I will be giving you some tips on how to save and invest your money in Nigeria.


Don’t spend on betting

I’m always surprised at the number of people that are into gambling especially sport betting and these people see it as a means of making money.

Let me just tell you now that it is a sure way to waste your money. I even see some blogs and e-books showing you strategies on how to play and win from betting sites. Sorry to burst their bubble, there’s no winning strategy for betting so just forget about making it an extra source of income.

The way betting works is you play 10 rounds, you lose 8 and you win 2 or let’s say you lose 7 and win 3, at the end of the day it’s the betting company that’s making profit and that is why you see them getting richer.

If you want to go into betting, don’t be part of the customers losing their money on the game instead you should be the owner of the betting company making the money.


Don’t spend heavily on drinking alcohol

Hey! I know this a NO for a lot people because that’s the way they have fun but let’s face the fact, just try to do without drinking for a month and save the money instead, you’ll be surprised at the amount you would have been able to save at the end of the month.

I know you’re thinking I’m going to tell you to stop drinking but I won’t. My advice is you reduce your intake of alcohol. Maybe if you’ve been taking 5 bottles before, you can reduce it to 2 bottles.

But really I would prefer you stop drinking alcohol if you can because there’s always that tendency to keep increasing the number of bottles you take if you are someone who drinks every day and you know that taking too much alcohol can also lead to health issues.


Patronize mama put restaurant instead of fast food eatery

One of the ways you can spend less is by visiting eateries less often, I’m not saying you shouldn’t visit eateries at all but it shouldn’t be every day because you can actually get same food from mama put restaurant at a lower price. So why not just patronize mama put more.

From my experience some mama put restaurant cook better than some of these eateries then why should I pay more at an eatery when I can get something better elsewhere at a lower price.

If you earn big and you feel like eating in an eatery every day, it’s not bad but if you still struggling and you don’t even have enough savings then just eat more at mama put and don’t mind what people will say.

Another option is you can cook your food yourself as this will save you a lot of cost but from what I’ve been seeing these days some people don’t know how to cook any food except noodles while for some people they don’t just have the time to cook. So if you are in this category I suggest you buy your food outside.


Reduce the number of events you attend

It’s good to go for parties and event but for some people it’s already part of their weekly plan. If you attend wedding ceremonies every weekend, it shows that you don’t really value your time except maybe you are an MC, a DJ or a party planner then it’s okay for you to go for parties regularly.

Some other people’s obsession is going for music concert, they are always at every top music concert, if you are in the entertainment industry then it’s cool to do such but if you are not in the entertainment industry then I see it as a waste of time.


Have a budget

Having a budget helps you control your spending. At the beginning of the month you should budget for the funds you want to spend that month.

Imagine you walk into a store with your ATM card and you start shopping, if you don’t have a budget you might just buy about half of the things in the store and before you know it, you’ve spent all the money in your account shopping.

When people hear budget, they think it’s about reducing your cost to the barest minimum but that’s not totally true because in a budget you determine how much you want to spend, if you want to spend big it’s allowed. The main purpose of budget is it helps you know exactly what you want to do with the money you have.

So a man with no budget is like a man who is confused and can be easily led astray.


Make use of coupons and promos

There are different types of promos and coupons we have these days. Some company award you reward points when you buy from them then when you have enough points you can you is to purchase something from them. Some other companies give discounts during special seasons like Valentine’s Day, Christmas seasons, new year period and even the black Friday.

You might be the type of person that does not care about getting discount because you feel it’s just a little percentage off what you are buying but you should also know that every penny counts.

So if your aim is to spend less then you should watch out for these discount periods and take advantage of the opportunities it presents.


Open more than one bank account

It’s good you open an account with a bank but I think is better when you have two bank account. I know some people wouldn’t like this idea because they believe that when you have more than one account, you’ll be spending more money.

My reason for suggesting opening two accounts is because you need an account where you should be keeping your personal savings. You might not even have an ATM card for this account so that it is not easily accessible to you. The main purpose of the account is just for saving your funds.

You should also have a main account you run which you can use for shopping; doing transfers, paying bills and any other transaction but such account can’t be where you keep your personal savings because you’ll easily spend it if you do that.

You can also decide do have more than two accounts in case you want to save for other projects.

One of the reasons I prefer keeping my funds with the bank is that you can always get an accurate report of your accounts.


Save funds in piggy bank

One of the ways to also save money is by saving your money in a piggy bank. You can keep that extra money you make in the piggy bank.

Although I’ve not tried this recently but I think I’m going to try it soon and I think you should try it too and see the result.

When you save in a piggy bank it’s going to make you realize that little drops of water make a mighty ocean and little grains of sand make the pleasant land because you will be surprised at how much those extra funds can amount to at the end of one year.


Save funds with cooperatives

Another way you can save money is by saving money with a group of people and you all benefit from it mutually. The most common one is called Ajo.

This actually works best if you want to save money for a big project. You can form a group of 10 persons and you all contributeN50,000 monthly for 10 months. Each month different person gets the whole bulk of money contributed by everyone. So that means if it’s your turn to get paid, you’ll get N500,000. I think that makes sense.

Definitely it’s not everyone that’s going to like this idea because you need to be disciplined to do it. I tried once and really it wasn’t easy but it gave me the result I needed, I was able to raise enough money for what I wanted to buy.


Make investments

This is like going a step further than saving your funds in the bank. Let’s say you have some funds in your bank account, you can decide to invest it with bank for a period of time.

The interest you will get on your money wouldn’t be high but I can assure you that it is better than just leaving your money in your bank account and it is also one of the safest means of investment.

There are different types of investments you can do which include fixed deposit, treasury bills, treasury bonds, treasury notes and you can also visit your bank to make enquiries about their investment packages.

Having an investment is a source of passive income because you don’t do any activity but you get interest on your money.

There are other good investments aside the ones have mentioned and you can try making your own research on it.

Before you make any investment decision, get advice from professionals. Don’t make the mistake of investing in High-Yield Investment Programs (HYIP) because you might use lose your money.

If you see any investment program promising you more 40% interest rate in a month, you need to assess it thoroughly or you just run.



Conclusion

It is possible for you to spend less and save more but that’s only if you are focused on doing it. A lot of people haven’t been able to save much money because they’ve never tried to do it.

But I’m challenging you today to try it using some of these tips I’ve written above and you will be surprised by the tremendous result you are going to get.

Happy savings!



Source.

You can visit www.successpoint.com.ng for more interesting post

I really love this...
I made about N10m last year in business,but due to family,friends,enemies and careless spending on myself,i wasn't able to save for last year i must confess.And am not happy about it.

abhee007:
oga tell me how you know
you run Nigeria's air force fleet or you were a hanger keeper for the aircraft??
why do we keep making things out of things in Nigeria.. does American serviced,inspected, and more costly air force crafts not crash
guy be wise abeg..

Don't be foolish

Genesiszero:
Hello nairalanders, please help advice my cousin brother. I've been in this forum for quite a number
of times and i've seen people post their problems here and has gotten numerous solution from experienced people, so i thought i could share this here!

WARNING: might be a lengthy post!

My cousin has been in love with his girlfriend
for about 3years now, she was loving, caring, remorseful, respectful, intelligent, exposed and understandable girl. she's the dream girl that any guy could imagine and ever wanted! though she's from a rich background but has never used her superiority, class or exposure to downcast or contradict my cousin in any form.
My cousin in the other end is a working class guy with some enterpreneural investment as well, he's finacially stable and can carter for any finacial uprising. he's decent, tall, handsome, educated, learned and connected too!
Fast forward to 2months ago, he decided to take it to the next level(walking down the aisle with her),
few weeks down the line, our people went to her's and the introduction was made and the bride prise has been paid as well, he has performed all marital rites that is expected of him as it's recommended by the culture and traditon of where we come from. The white wedding is coming up in few weeks but a very big and gigantic problem eventually emerged recently, my cousin called me 2days ago and was telling me to advice him on what to do, my cousin has been living a low key life even right from our childhood days,
the latest trends doesn't freeks him, he's isolated(Not primitive), he's a gentle man always never wants unecessary attention for whatsoever
reason just like me too, but his fiancee was this classical hell of a girl who wants an elaborate wedding, a wedding that is so expensive and luxurious
to be the talk of the town, may be it's due to her background i guess but my cousing in the other end does not fansy such things, a wedding causing road blocks or unecessary commotion all in the name of getting married. Not that he could not afford the money or afford the expences, he earns from 190,000 - 230,000 monthly, i think finance is not the problem but a choice of prefernece and life style. i can remember some years back during our teenage years, he once told me that he wouldn't want more than 30 people in attendance for his wedding,
just his family, the girl's family and close friends and collegues. this might sound a bit funny huh? lol. The whole thing is now getting so serious as the girl insist
on her point of view of the wedding(classic and luxurous). he called me somtimes yesterday and was a kind of threatening to call off the wedding if the girl could not adhere to his perspectives and choice but she insist, i'm afraid guys, he's family knows about this, his parents know him even from childhood, this is his life!

As funny as this would sounds, its becoming very serious as the girl is not ready either. I tried explaining to him that
as a girl, she would like to impress her friends and collegues too, she'll want to have dignitries and other repuatble people in attendance, she even told him that she would foot the bills and cover the finances herself since he has done his responsibilties as a man, i think this is mormal for girls. i tried letting him know that its a thing that invloves two people, you and your fiancee and her voice and perspective must be considered too......

i've spoken enough, so please say your opinion on this and advise us on what to do on this, thanks!

This is not a problem in any way.
If your cousin wants to have a peaceful marriage,let him just do an elaborate wedding....After all,the wedding is just once in a life time.

Davido's linage are short in height

Who really cursed Africa

This is saddening

KingofHearts:
10 seat contact center solution available.includes 2 supervisor License,10 agent License(Scalable),recording &queue,reporting&IVR,dialler and more.Plug play with your E1line and ready to give you value on day 1.No delay.Call 08023701151.

Please what is this all about,can you elaborate more on this?

Faceville:
Your best option is Nigeria Treasury Bill. Your 15million will give you a minimum of 1.5million every year while you do nothing and your money still remains intact. You can make more enquiries from your bank.

I thought TB was more than 10%?

Wittysmith:
Recycling of waste plastic material is a very lucrative business. All you have to do is buy waste plastic materials, grind and process them, and then supply the processed plastic waste to plastic manufacturing companies who use them as raw materials for the production of new plastic products. An investment of 2M can fetch you a minimum of 800k profit every month. It's a cool money spinner.

Do you know about the business?

Those boys have broken the record for 2019

Nigeria is the most careless and lacks maintenance culture.....The helicopter that crashed did crash because it was old,but because they failed to service it,despite it being due for service.....

victorian:
Location: 17 Oyewole street, off ikorodu road. Palmgrove bus stop. Illupeju.


If nothing is working in your life, please come.

Our weekly services are Saturday 6:30am To 8am (anointing for people looking for jobs or want their biz to improve)

Wednesday : 6pM to 8pm ( holy communion for the sick or any one who is cursed)

Sunday : 6:30am - 11am ( blessing to start a new week)

God bless you as u come. Amen

Can you please keep your church to yourself,stop advertising all this profit making organisation here.Thank you.

kennygee:
She doesn't need to repent from her ways and be dedicated to God?

Just your church programs?

She is the type that carries church matter for head and believes her pastor more than her spouse.....

victorian:
As long as the beautiful girls are still alive, they can be saved and their destinies taken away from those Yahoo boys.

Just bring any lady he wants to marry to my church and her destiny will be given back to her. As long as she's dedicated to our church programmes, her story is easy as ABC.

Can virginity be restored,if it can,then i might believe your church a little.

What of our bastard politicians who stole in billions and granted bail for N100m

I believe it is called freedom of speech.....Like;talk is cheap.

Thinking that Canada has over 300,000 vacant jobs, looking for whom to fill them

Nigeria is sinking like the great titanic ship....

Imagine 242,455 seeking the position meant for only 10,000....Despite the fact Nigeria police is the worst job anyone would wish his/her enemies to join.

Holybwoy:
Poverty issa bastard.. This is the first time I would be getting an offer above 100k. When the chinese HR called me on phone and said "You are the guy we want to work for us. we will be offering you 150k".. I quickly jumped at the offer because I earn 40k at my former place of work. When I was going through the interview process, they asked how much I earn at my current place of work, I said 180k for a graphics designer position.
So, when they offered me 150k, povertea don block my brain to negotiate further.
Today, upon resumption after complaining to my HR about salary deductions, he said it was a mistake. He then proceeded to show me my Salary profile. He thought I was looking at mine but I was scanning through my colleagues that we came in at the same time..
700k.. 600k.. 500k

I am in pains!!
I am not envying them.. i am just feeling stupid for not knowing my value.. they know theirs!! I won't make this same mistake..

Chaii


Is there something I can do?

First prove your worth,by providing exceptional ideas into the organisation... Before you can ask for it.

MyTototear:
Women are also investments. It's that the many men choose to have many of them.

OoOh really?

englishmart:
I still think Regina Daniels is the most spoilt teen in Africa. Wetin that girl dey collect, if many girls collect am them go get serious kpekusian crisis.

She begged for a one-night stand in public, Shatta Wale will beg in secret.

But u aren't sure of wat u are saying,neither do u have any proof

asdfjklhaha:
Blood money...

Define blood money?

Tamarapetty:
So men sef dey wear leg chain??

He is gay for sure

TheMoniker:
Ok hear it here.
When I been dey Agungi for Lekki, Alex Ekubo been dey come most places with different girls atm to pay after service rendered and dey come with different cars mostly owned by this girls and if it’s too flashy then know it’s from a car dealer.
Fake life ti poju.

Asin he sleeps with older women for cash?

Godmother:
Beautiful lady. Still decent to a fault








Five Easy Ways to Tighten a Loose Va*Gina

What made her decent?

Oluromantic:
How can someone own 2 range rover of same brand

They gifted him those range